Global Shrimp Paste Market Forecast: Industry Size, Growth and Analysis Insights
Report ID : 1362980 | Published : February 2025 | Study Period : 2023-2033 | Format : PDF + Excel
The market size of the Shrimp Paste Market is categorized based on Type (Fermented Shrimp Paste, Non-Fermented Shrimp Paste) and Application (Food Industry, Food Service, Household) and Packaging Type (Bottles, Pouches, Cans, Tubs, Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).
Estimated at $1.5 billion in 2023, the Shrimp Paste Market size is forecasted to reach $2.5 billion by 2033, exhibiting a CAGR of 5.2% between 2024 and 2033. The report includes various segments and analyzes key trends and factors that play a significant role in the market.
The shrimp paste market has been expanding considerably in the past few years owing to the increased need for authentic tastes in cooking and the rise of Asian cuisines across the globe. As one of the staple ingredients in many local dishes, shrimp paste boosts the flavor of food while also serving as a protein-rich and nutritious ingredient. This increase in consumer appetite has created a new market which, in efforts to satisfy consumer needs, has sought for both the traditional and modern ways of shrimp paste production.
Apart from its usage in cooking, shrimp paste is now gaining attention because of its possible health advantages, which is creating further demand for it. There is a market gap with products such as different kinds of shrimp paste from various countries, differentiated by taste and texture. With the continued changes in the global food industry, the shrimp paste market is bound to grow continuously due to sustained demand on both the import and export sides. It is essential for any business interested in trying to take advantage of new trends and consumer needs to comprehend the workings of the shrimp paste market.
| ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2023-2033 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2033 |
| HISTORICAL PERIOD | 2023-2024 |
| UNIT | VALUE (USD BILLION) |
| KEY COMPANIES PROFILED | Thai Fish Sauce Factory, Fenghua Food, Chao Wei, Mekong Fish Company, Huy Fong Foods Inc., Haitian Flavoring & Food Co., Pinnacle Foods, Tropicana Food, Lee Kum Kee, Kraft Heinz Company, Kikkoman Corporation |
| SEGMENTS COVERED |
By Type - Fermented Shrimp Paste, Non-Fermented Shrimp Paste
By Application - Food Industry, Food Service, Household
By Packaging Type - Bottles, Pouches, Cans, Tubs, Others
By Geography - North America, Europe, APAC, Middle East Asia & Rest of World. |
Shrimp Paste Market Dynamics
The Shrimp Paste Market is undergoing significant changes due to various dynamic factors. This section delves into the key drivers, restraints, opportunities, and challenges that are shaping the market landscape.
Market Drivers
- Technological Advancements
- Increasing Consumer Demand
- Regulatory Support
- Globalization
Market Restraints
- High Operational Costs
- Regulatory Challenges
- Market Saturation
Market Opportunities
- Emerging Markets
- Product Innovation
- Strategic Partnerships
Market Challenges
- Technological Disruptions
- Supply Chain Issues
- Changing Consumer Preferences
Shrimp Paste Market Segmentations
Market Breakup by Type
- Overview
- Fermented Shrimp Paste
- Non-Fermented Shrimp Paste
Market Breakup by Application
- Overview
- Food Industry
- Food Service
- Household
Market Breakup by Packaging Type
- Overview
- Bottles
- Pouches
- Cans
- Tubs
- Others
Market Breakup by Region
North America
- United States of America
- Canada
- Mexico
Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Others
Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
Latin America
- Brazil
- Argentina
- Mexico
- Others
Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Key Players in the Shrimp Paste Market
This report provides an in-depth analysis of both established and rising industry participants. It provides broad lists of important companies organized by the types of products they offer and other market-related factors. In addition to characterizing these companies, the report contains the year each player entered the market, which is useful for research analysis by the study's analysts.
- Thai Fish Sauce Factory
- Fenghua Food
- Chao Wei
- Mekong Fish Company
- Huy Fong Foods Inc.
- Haitian Flavoring & Food Co.
- Pinnacle Foods
- Tropicana Food
- Lee Kum Kee
- Kraft Heinz Company
- Kikkoman Corporation
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● Detailed profiling of additional market players (up to three players)
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● Benchmarking of key players on the following parameters : Product portfolio, geographical reach, regional presence, and strategic alliances.
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